Transitioning To a New Executive Role: 4 Critical Tips
Whether you’re moving to a new company or upgrading from your current role, the transition to a new executive opportunity needs to be executed flawlessly. Failing this could end in devastating consequences, as recorded by McKinsey & Company. According to this post, unsuccessful transitions could result in 20% less engagement and 15% lower performance. Because most executive roles are based on a business’s performance, it won’t look superb on your KPIs if you encounter this.
Therefore, you’ll want to guarantee that you perform the transition period perfectly. In the same article, McKinsey & Company showcased that successful transition periods are 90% more likely to meet performance goals within the first three years, also they have a lower attrition risk by 13%.
Now, which one would you prefer? We thought that also. To help with this period, see the below four essential tips.
1. Understand and build on positive legacies
During the starting phase of your executive role, don’t change anything too drastic. Instead, understand what positive legacies were left behind by the old executive, use them, and build slowly. Changing too much at an immensely fast rate can quickly become unpleasant for the existing workers. After all, first impressions count, and this is how people will remember you for the foreseeable.
2. Implement coaching culture right away
Without a shadow of a doubt, the transition can cause high anxiety levels, not only for you. Workers can quickly become stressed due to this situation. Therefore, set up private meetings with everyone underneath you and let them express their feelings. During this period, you’ll start to develop a relationship with everybody, understand more about what is and isn’t working in the business, along with any frustrations people have.
By having adequate knowledge of this, you can better visualise what’s really happening within the work environment. Afterwards, you can act on the issues and take feedback from other colleagues as you progress.
3. Build relationships
During this process, you’ll also want to build a relationship with everyone. We understand that for substantial organisations, this isn’t possible. But you’ll at least want to become familiar with all the managers, assistant managers, and various other people that have access to quick information about the departments.
However, If you can become familiar with everyone, that’s a much more advantageous approach to making the transitioning period more seamless.
4. Go the extra mile
As mentioned above, first impressions count, and there are probably reasons why you’re the company’s new executive. Because of this, only make promises you can stick with and be truthful to those that ask questions. Although you could make them happy by making false accusations, this will only benefit you short term. If someone requests something outrageous, don’t say no, politely reason with them and so forth.
Without a doubt, becoming an executive in a new company or existing one is extremely difficult, but you must undergo the transitioning period correctly. Trust me, it’ll be much more rewarding in the future, and you’ll undoubtedly provide yourself with that much–needed kick start.
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